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Dec 23, 2012
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situation of the fiscal cliff. it is clear that our conference has been consistent in its commitment to do something about the spending problem in washington and the mounting debt that has resulted. we stand ready to continue in dialog with this president to actually fix the problem. i hope that we see that our colleagues on the other side of the capitol can do likewise to get serious to address the real problem of spending so that we can get on about the business of growing economy and getting people back to work. >> a lot of the arguments that you made [inaudible] [inaudible] >> the president and i had a series of conversations. i told president these were my the president told me his revenues, $850 billion in line. he could not go any further. so we see a situation where, because of the political divide in the country, because of the divide here in washington, trying to bridge the differences has been difficult. if it were easy, i guarantee this would have been done decades before, but we have to find a way to a
situation of the fiscal cliff. it is clear that our conference has been consistent in its commitment to do something about the spending problem in washington and the mounting debt that has resulted. we stand ready to continue in dialog with this president to actually fix the problem. i hope that we see that our colleagues on the other side of the capitol can do likewise to get serious to address the real problem of spending so that we can get on about the business of growing economy and getting...
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Dec 23, 2012
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>> nobody wants us to go over the fiscal cliff. the estimates show that if we go over the fiscal cliff it could cost us some where between 1 and 2 gdp points. nobody thinks it is a good idea. every single poll including the "wall street journal" and pugh has shown that the american public overwhelmingly by the order of 70% want a balanced approach. of the $2 trillion in deficit reduction goal, a trillion, half in revenues and a trillion the other half in spending cuts. in fact, that is where most economists and deficit reduction experts are. the idea of balance. that is where the election, the american people were, the president campaigned on this issue and that is where john boehner was a week ago. a trillion in tax revenues and a trillion in cuts and took that to his own republican caucus and they were unwilling to support him on that. it is impossible to get a deal if the republicans put forward a leader who then presents a proposal to the president that the republicans themselves don't even back up. >> ford, i will put the same
>> nobody wants us to go over the fiscal cliff. the estimates show that if we go over the fiscal cliff it could cost us some where between 1 and 2 gdp points. nobody thinks it is a good idea. every single poll including the "wall street journal" and pugh has shown that the american public overwhelmingly by the order of 70% want a balanced approach. of the $2 trillion in deficit reduction goal, a trillion, half in revenues and a trillion the other half in spending cuts. in fact,...
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Dec 23, 2012
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WBAL
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you would avoid the fiscal cliff for now. you kick the can down the road. this is washington dysfunction at its height but it would forestal the cliff >>> i wonder if we are seeing a change to speaker boehner that got his hand slapped by some members of his party. is there long-term damage here? >> the white house is that they don't have a real partner to negotiate with. republicans are facing a reality that the public is supportive of raising taxes on wealthier americans. they are likely to have to support that. the question is always whether boehner is going to move forward without a majority support from his own party on a particular bill that may start from coming from the senate. these are debates that have to still be resolved. even if there is a short-term deal, these big issues over taxes and spending are far from resolved. if we get into the president's second term, they are still going to be occupying him. >> for folks who maybe may not have focused, if no deal is done, virtually, everybody's taxes would go up, correct? >> correct. automatic spend
you would avoid the fiscal cliff for now. you kick the can down the road. this is washington dysfunction at its height but it would forestal the cliff >>> i wonder if we are seeing a change to speaker boehner that got his hand slapped by some members of his party. is there long-term damage here? >> the white house is that they don't have a real partner to negotiate with. republicans are facing a reality that the public is supportive of raising taxes on wealthier americans. they...
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Dec 23, 2012
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lou: there are only ten days remaining tothe fiscal cliff. president obama headed to value within actually minutes, and members of congress have also gone home for chrrstmas vacation already. in a news conference today, speaker boehner admitted negotiations wh the president ha, indeed, been difficult. >> until the president on monday, these are my bottom lines. the president told me that his numbers, $1 trillion in new revenues, 850 billion in spending cuts was his bottom-line. he could not go any further. lou: and he didn't. the plan be option collapsing last night when he failed to get republican support to raise taxes on only those making more than a million dollars a year. over in the senate majority leader harry reipounced on the very public embarrassing defeat. >> we knew the so-called plan b was no plan at al. it could not pass the senate. it turns out, it could not pass the house either. it is too bad speaker boehner wasted a week in his political stunt. lou: if there is no agreement, tas will go up on all american taxpayers and hundr
lou: there are only ten days remaining tothe fiscal cliff. president obama headed to value within actually minutes, and members of congress have also gone home for chrrstmas vacation already. in a news conference today, speaker boehner admitted negotiations wh the president ha, indeed, been difficult. >> until the president on monday, these are my bottom lines. the president told me that his numbers, $1 trillion in new revenues, 850 billion in spending cuts was his bottom-line. he could...
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Dec 23, 2012
12/12
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. >> the countdown to fiscal cliff negotiations reaches the final hour. but it's already too late for your first couple of paychecks in the new year. >> no matter what congress does to address the year- end "fiscal cliff," it's already past the deadline for employers to accurately withhold income taxes from january paychecks. this means. at first workers probably won't feel the full brunt of next year's tax increases in their january paychecks. employers are planning to withhold income taxes at the 2012 rates, at least for the first one or two paychecks of the year. things change when the internal revenue service releases income tax withholding tables for 2013. >> president barack obama and first lady michelle obama are wishing americans a merry christmas and happy holidays from hawaii. the obamas departed for their vacation last night and arrived there this morning. the president says the nation should give thanks for veterans and their families and asks americans to "say a prayer for all our troops" - including those spending the holiday in afghanistan
. >> the countdown to fiscal cliff negotiations reaches the final hour. but it's already too late for your first couple of paychecks in the new year. >> no matter what congress does to address the year- end "fiscal cliff," it's already past the deadline for employers to accurately withhold income taxes from january paychecks. this means. at first workers probably won't feel the full brunt of next year's tax increases in their january paychecks. employers are planning to...
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Dec 23, 2012
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. >>> moving to the fiscal cliff. teetering on the edge of the fiscal cliff now with nine days left to cut a deal. lawmakers are home for the holidays. house speaker john boehner, his plan b went bust. before leaving town president obama urged congress to pass a mini-plan that would preserve middle class tax rates. the president is now in his native hawaii for a quick christmas break. briana keiller joins us from honolulu. hello, briana. is this fiscal cliff deadline getting closer, what do we think will happen as the holidays rolls out here? >> reporter: well, there's one sort of last ditch effort possibility here, don, and that is when the senate reconvenes on the 27th, it's possible that either they could try to pass something and sort of force it on the house or it's possible that they could take a bill that they've already passed back in july with the threshold of those tax hikes being at the $250,000 level and that they could kind of say to the house, okay, now the ball is in your court. you have to deal with th
. >>> moving to the fiscal cliff. teetering on the edge of the fiscal cliff now with nine days left to cut a deal. lawmakers are home for the holidays. house speaker john boehner, his plan b went bust. before leaving town president obama urged congress to pass a mini-plan that would preserve middle class tax rates. the president is now in his native hawaii for a quick christmas break. briana keiller joins us from honolulu. hello, briana. is this fiscal cliff deadline getting closer,...
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Dec 23, 2012
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more on the fiscal cliff negotiations. i am joined by congressman peter king from new york who is involved. congressman, great to have you here. >> great to be here. >> happy holidays. >> happy birthday. >> have i to ask you, what are you doing home when we are approaching the fiscal cliff? >> probably not. once the deal broke on thursday night, the president and the speaker and the majority leader and the senate thought it was best to step back and now try to work out an arrangement. i have no problem being there. >> were you in support the plan b? >> i was. it was not a perfect plan, but considering the alternative, basically what john boehner was saying was no taxes would raise on anyone who had under $1 million. he was setting a million dollar threshold. the president was 250 or 400,000. i thought john boehner's hand was better and would strengthen in the negotiations. i think too many people in the conference were afraid would be seen as voting to increase taxes, but for not voting on the tax on over there for over a
more on the fiscal cliff negotiations. i am joined by congressman peter king from new york who is involved. congressman, great to have you here. >> great to be here. >> happy holidays. >> happy birthday. >> have i to ask you, what are you doing home when we are approaching the fiscal cliff? >> probably not. once the deal broke on thursday night, the president and the speaker and the majority leader and the senate thought it was best to step back and now try to work...
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Dec 23, 2012
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they are worried about the fiscal cliff. we saw a drop-off of spending as the fiscal cliff seemed to be more and more real as all the talks fell apart. >> gregg: we are seeing other things. average work weeks in some regions shrinking, online job posting may be declining, think that i was in minnesota and insurance claims are rising? >> they are tough to read the tea leaves but what we are seeing is consumers which is the driving engine of this economy, three-quarters of g.d.p. is consumer spending, we are seeing consumers, we got record traffic but they are not spending. this next couple of days, one more shopping day until christmas, usually about 10% of consumers spend on that day. also looking for the big deals. that is another thing we are sees retailers putting discounts late in the season. that may mean fewer jobs in the future. >> gregg: the question is, as we said, how do we stimulate growth in the higher paying technology and manufacturing sectors? >> first of all before we ring the death bell on manufacturing, u.s
they are worried about the fiscal cliff. we saw a drop-off of spending as the fiscal cliff seemed to be more and more real as all the talks fell apart. >> gregg: we are seeing other things. average work weeks in some regions shrinking, online job posting may be declining, think that i was in minnesota and insurance claims are rising? >> they are tough to read the tea leaves but what we are seeing is consumers which is the driving engine of this economy, three-quarters of g.d.p. is...
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Dec 23, 2012
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something that puts us past the fiscal cliff but then brings the fiscal issues into the new year which has a lot of potholes for the president. has a lot of things to get done on his legislative agenda, so worried about how going over the cliff might impact the economy immediately. >> who is more likely to take the blame if we do go over this cliff? >> that's a lot of what we're seeing. that's why you see john boehner talk about how hope springs eternal and how the president always says, look, we can find something that gets done. this is all pr. so far the democrats have the advantage on this, if you look at polling, but, you know, everybody is going to get a share of the blame if something doesn't get done, and i think the president is -- is aware of that, but, you know, aides to the right and to the left, democrats and conservatives in -- in the senate tell me that they are skeptical that there's going to be a big deal. kind of crossed that out immediately unless some huge breakthrough happens and john boehner brings something to the floor that can't get majority republican support.
something that puts us past the fiscal cliff but then brings the fiscal issues into the new year which has a lot of potholes for the president. has a lot of things to get done on his legislative agenda, so worried about how going over the cliff might impact the economy immediately. >> who is more likely to take the blame if we do go over this cliff? >> that's a lot of what we're seeing. that's why you see john boehner talk about how hope springs eternal and how the president always...
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Dec 23, 2012
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republicans saying the president wants to go off the fiscal cliff. so, i think it's quite possible we will, although it's not going to be catastrophic the first day. so i think -- it will take past the first of the year for them to actually come one something. and i think they will come up with something before the economy just turns to disaster. >> perhaps it is nice we all go off the cliff together. john boehner, the implosion of plan b seems hugely tough for him to get over. account president actually negotiate with boehner if he can't deliver his own caucus? >> well, it was interesting. today, we had some republicans saying to us that if boehner thought add good deal, that he could get enough democrats on and some republicans, whe would put out a deal that might not get a majority of republicans. i don't see there is a bill now because the democrats are not so sure what kind of spending cuts they want. yes, i think john boehner is still in the mix, in the end, he is going to have to deliver in the house. he doesn't necessarily have to deliver all
republicans saying the president wants to go off the fiscal cliff. so, i think it's quite possible we will, although it's not going to be catastrophic the first day. so i think -- it will take past the first of the year for them to actually come one something. and i think they will come up with something before the economy just turns to disaster. >> perhaps it is nice we all go off the cliff together. john boehner, the implosion of plan b seems hugely tough for him to get over. account...
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Dec 23, 2012
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cliff -- our roundtable is back again this week with a clarity on the fiscal cliff. thank you for being with us. what happens now? >> good question. i guess congress will get back on wednesday. we will see they can come up with something, some figleaf that will give everybody enough political protection so they can cancel the sequester and spending cuts and tax increases that are scheduled. i am still very skeptical that will happen. my guess is that we are going over the cliff. host: you give it about a 75% chance that we would go over the cliff a couple of weeks ago. guest: of today are close to 90%. the new mentality in washington seems to be, we do not have to do this by december 31. the damage to the economy in the short term will be very small. in fact, they have a couple of weeks, if not three or four weeks in january, before this starts to pinch a bit. it is not as much of a cliff as people were seeing a couple of days ago. host: are we going over? guest: it is a slope, that is important to lay out. you do not have major economic effects on your average perso
cliff -- our roundtable is back again this week with a clarity on the fiscal cliff. thank you for being with us. what happens now? >> good question. i guess congress will get back on wednesday. we will see they can come up with something, some figleaf that will give everybody enough political protection so they can cancel the sequester and spending cuts and tax increases that are scheduled. i am still very skeptical that will happen. my guess is that we are going over the cliff. host: you...
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Dec 23, 2012
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fiscal cliff talks coming to a stand still. one senator says congress better get serious because the real deadline is just four days away, we'll explain. >> kelly: did you know even if a deal is reached, your paycheck is still going to take a plunge anyway. why 2% of your money is coming out ever your paycheck no matter what happens on the hill. >> clayton: plus, he served and protected his country and now this former marine is making it his mission to keep his kid safe at school. he's taking matters in his own hands outside school. "fox & friends" hour two starts right now. ♪ >> good morning, everybody, thanks so much for joining us on this pre-christmas weekend. great to have kelly wright with us sitening for dave briggs. >> kelly: good morning. >> clayton: man to man, have you gotten your christmas shopping done. >> alisyn: he's a real man. >> kelly: i've done it. >> clayton: a better man. >> kelly: doesn't mean i did it on time. >> clayton: i made the mistake of going to the mall yesterday, and i'm sure most of you were t
fiscal cliff talks coming to a stand still. one senator says congress better get serious because the real deadline is just four days away, we'll explain. >> kelly: did you know even if a deal is reached, your paycheck is still going to take a plunge anyway. why 2% of your money is coming out ever your paycheck no matter what happens on the hill. >> clayton: plus, he served and protected his country and now this former marine is making it his mission to keep his kid safe at school....
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Dec 23, 2012
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some of they will said that the fiscal cliff is sort of on their minds. but they're taking it in stride today. a lot of people have a very relaxed atmosphere to be in. but tomorrow could be a different story. of course that really last-minute rush and crush, mad dash to pick up those gifts on that christmas eve. many of the stores are trying to accommodate those last-minute shoppers, those procrastinators we're talking about, including, you know, just the last-minute few people like myself that's just wrapping up a few gifts or the people that are just getting started. macy's, toys 'r' us, and a couple other stores are staying open around the clock between now and christmas eve. so, alex, there's plenty of time. most of the people we talked to are in good spirits still. could turn ugly later, though. >> i'm just frightened. i should have e-mailed you my list. oh, well. michelle franzen, thank you so much. >>> straight ahead, a grave new report on north korea's potential to strike the u.s. mainland with a missile. how big a threat? general wesley clark joi
some of they will said that the fiscal cliff is sort of on their minds. but they're taking it in stride today. a lot of people have a very relaxed atmosphere to be in. but tomorrow could be a different story. of course that really last-minute rush and crush, mad dash to pick up those gifts on that christmas eve. many of the stores are trying to accommodate those last-minute shoppers, those procrastinators we're talking about, including, you know, just the last-minute few people like myself...